Market Review: ASX 200 rises for sixth-straight session

The local share market has climbed for the sixth consecutive session. The market defied what was a mixed night for international equity markets and a sharp drop in oil prices, while the Australian dollar also rose further above US76 cents.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.4% to 5411 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.4% to 5491 points
  • AUD/USD at US 76.19 cents
  • Iron Ore at US$56.22 a tonne, according to the Metal Bulletin
  • Gold at US$1,337.41 an ounce
  • Brent oil at US$46.79 a barrel

Bellamy’s Australia Ltd (ASX: BAL) was among the biggest movers. Its shares rose 5%, while aged care operators Japara Healthcare Ltd (ASX: JHC) and Estia Health Ltd (ASX: EHE) gained 3.6% and 2.8%, respectively.

Incitec Pivot Ltd (ASX: IPL), on the other hand, dropped 9%. Fortescue Metals Group Limited (ASX: FMG) also lost 4.1%.

Fortescue’s rivals ended in the red as well, albeit by not as much. BHP Billiton Limited (ASX: BHP) lost 1.2% and Rio Tinto Limited (ASX: RIO) fell 1.1%.

Australia and New Zealand Banking Group (ASX: ANZ) shares lifted another 1%. Telstra Corporation Ltd (ASX: TLS) also gained 1.2%.

Here are Thursday’s top stories:

  1. Bellamy’s Australia shares could be worth $22 says top broker CLSA
  2. Why Transurban Group could be the blue-chip king
  3. 3 world-beating ASX small caps to buy today (Part II)
  4. 3 BIG investing mistakes – and how to avoid them
  5. 2 dividend shares that thrash Telstra Corporation Ltd’s 5% yield
  6. What you need to know about Woodside Petroleum Limited’s US$430 million acquisition
  7. Broker downgrade: Is Incitec Pivot Ltd worth your investing dollars?

Free Report: 3 Rotten Shares to Sell, and 1 to Buy Today

After a double-digit rally for the ASX since 2016 lows, investors should be on high alert. You'll find a full rundown below of 3 shares we think you should avoid today plus one top pick worth buying, even if the market turns south and the RBA keeps rates at an "emergency low." Simply click here to uncover these stocks.

Motley Fool contributor Ryan Newman owns shares of Bellamy's Australia. The Motley Fool Australia owns shares of Bellamy's Australia. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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